The Equipment Leasing Q


With the holiday season officially upon us, we have found ourselves thinking about our favorite seasonal treats. One in particular stands out – fruitcake. This quintessential treat is timeless and has been a staple of holiday feasting for as long as any of us can recall.

christmas-stollen-1084954_1920What goes into a fruitcake? By that we mean, what equipment must bakers have in order to bake this dessert correctly? Commercial bakers with fruitcake on the menu must have a mixer, an oven, a refrigerator, large mixing bowls and ample shelving to store the finished treats.

Without the necessary equipment, fruitcakes would cease to exist! Next time you’re enjoying a piece of fruitcake at a holiday gathering, don’t forget to think about the behind-the-scenes role plays in bringing that treat to tables year after year.


Deal supports growth, improved service to the three-party equipment finance industry

BOSTON (Nov. 16, 2016)LeaseQ, an online marketplace connecting business owners, equipment sellers, and lenders to make selling and financing equipment fast and easy, today announced the acquisition of Noesis, the leader in commercial building equipment financing, based in Austin, Texas. Noesis, now a business unit of LeaseQ, will serve as LeaseQ’s Austin presence.

“To succeed in a vertical market, you need deep industry expertise, and we’ve found that in Noesis,” said Vernon Tirey, co-founder and CEO of LeaseQ. “By acquiring the leader in building equipment financing, we are able to better serve building equipment manufacturers, distributors, contractors and their customers. Noesis has also developed powerful proprietary sales tools that helps equipment sellers articulate the value and benefits of purchasing new equipment, and LeaseQ can leverage those tools across other equipment vertical market categories to grow combined business more rapidly and efficiently.”

Noesis is the premier source for financing commercial building equipment, like LED lighting, HVAC systems, commercial refrigeration and building controls. With deep expertise in commercial building and energy equipment, Noesis brings a strong, unique set of equipment sellers to the LeaseQ platform, including leading manufacturers of energy efficiency equipment, and mechanical service and LED lighting companies. LeaseQ’s robust network of more than 300 lenders, instant quotes and real-time credit approval will enhance the Noesis customer experience with higher approval rates, lower interest rates and improved deal close rates.

“LeaseQ is a company with strong financial backing that brings scale and resources to our vertical market,” said Scott Harmon, CEO of Noesis. “We share the same vision to revolutionize the equipment finance industry one vertical at a time. Joining LeaseQ allows us to take advantage of the groundbreaking work that Vernon and his team have done, and to leverage those innovations in our vertical.”

Current Noesis customers will experience no changes to Noesis software, services or account managers, but will receive access to additional LeaseQ features over time. LeaseQ plans to expand both its sales and funding teams to support the companies’ combined growth, and to maintain Noesis’ Austin office to expand on the strong presence the team has created.

Vernon Tirey, co-founder and CEO of LeaseQ, will serve as CEO of the combined businesses. Scott Harmon, founder and CEO of Noesis, will assume a position as strategic advisor.

About LeaseQ

LeaseQ is an online marketplace that connects businesses, equipment sellers, and equipment finance companies to make selling and financing equipment fast and easy. The LeaseQ platform is a free, cloud-based SaaS solution with a suite of on-demand software and data solutions for the equipment leasing industry. LeaseQ provides business process optimization (BPO) and information services that streamline the purchase and financing of business equipment across a broad array of vertical industry segments. Learn more at

About Noesis

Noesis, a LeaseQ company, is the leading tech-enabled equipment leasing marketplace for financing energy-saving commercial building improvements. Noesis’ innovative payment plans are designed for building equipment replacements and energy efficiency upgrades and are supported with a streamlined online application process that matches building owners to a lender in Noesis’ syndicate of leading equipment leasing companies. This process results in a quick application and funding process, high approval rates, and competitive rates and terms. Started in 2011, Noesis is used by over 200 commercial HVAC, lighting, and controls companies who collectively sell billions of dollars in equipment annually. For more information, please visit

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Recently, our VP Cory Damm provided valuable advice on equipment financing for franchisees and restaurant owners on premier restaurant industry news site, Fast Casual.

The feature outlines the high price of equipment, and suggests leasing and financing as smart, cost-effective and savvy alternatives to purchasing outright. Two pieces of advice Cory offers for those considering these alternatives are:

1) High-dollar, short-life equipment might be a better deal when leased

The ice machine is broken … again, right? Maybe it’s trying to tell you something. According to Damm, items with notoriously short life spans, like ice machines, can be good candidates for leasing since they often come with maintenance contracts that will sub a machine if one of yours goes down.

In fact, Damm said that the three main types of equipment restaurant chains most frequently lease from LeaseQ involve lots of technical maintenance or know-how (e.g., some point-of-sale systems), or heavy maintenance to ensure safe and accurate operation (e.g., refrigeration and ware-washing).

“All of these machines typically need constant maintenance and/or replacement on 5-year cycles, which make them natural assets for acquisition by lease,” he said.

2) Enter a lease with eyes wide open

Know what services are provided by your leasing arrangement, how often they are rendered and by whom. For instance, if the item you’re leasing requires constant recalibration, cleaning, refilling or other upkeep, make sure that your lease clearly delineates exactly what is provided, how often and by what kind of professional. It could make the difference between a deal and a dead, or even deadly, end.

To read the rest of Cory’s advice, please visit:



When it comes to moving, we can all agree that the process is a bit of a hassle. Residential and commercial moves require heavy amounts of manual labor and in some cases significant miles of travel, so moving companies are a necessity.

Starting a moving company is no simple feat. A multitude of decisions must be made in regard to the type of moving your company will perform, how far you will travel and how much you can move. The company must secure trucks, shelving equipment and hauling equipment, such as pads, dollies, etc.


Deciding on trucks is one of the most important choices a moving company will make. They must determine if they will have one type of truck or multiple sized trucks, how many and which vendor to purchase them from. In an industry with over 4,400 individual dealerships, that decision becomes even more daunting.

We recognized this opportunity and set out to create the first automated equipment leasing and finance platform for the commercial truck industry, TruckQ. With this platform, companies of all sorts can find the specific type of truck they need, with financing options that fit their unique needs and capabilities. We break down the multitude of dealer options in the industry and provide companies with only the ones that provide the trucks they require.

For moving companies, trucks are the most important piece of equipment, but finding the right fleet shouldn’t weigh down the operation! For more information on TruckQ, please visit:


TruckQ automates F&I for commercial truck dealers and offers instant quotes for borrowers

BURLINGTON, Mass. (Oct. 24, 2016)LeaseQ, an online marketplace connecting business owners, equipment sellers, and lenders to make selling and financing equipment fast and easy, today launched TruckQ, the first automated equipment leasing and finance platform for the commercial truck industry. TruckQ is designed to automate the financing and insurance (F&I) desk at commercial truck dealerships, and ease the borrower experience with multiple lenders and instant quotes.

Commercial trucking is a highly complex, but growing market, with trucking revenues expected to hit $1.52 trillion by 2026, according to Road Scholar Transport. The industry includes eight classes of trucks by weight – from cargo vans, to transit buses and dump trucks – approximately 4,400 individual dealerships, and a highly specialized group of lenders that often serve only one class of truck or size of operator. Matching borrowers with the appropriate lender has long been a challenge without automation to find and compare instant quotes for equipment leasing and financing.

“When you buy a car as a consumer, you work with the sales manager and then the finance manager, who has a suite of automated tools at his disposal to close the deal. No one is taking that automation approach in the commercial truck space,” said Cory Damm, vice president of client services at LeaseQ. “With TruckQ, we have not only automated the equipment leasing and finance experience, but also on-boarded 30 new lenders to serve all truck classifications.”

Truck Q provides instant quotes for truck industry borrowers with A++ to D credit, using a single application and soft credit pull. Specialized lenders on the TruckQ platform include Webster Bank, Navitas Credit Corp. and East Harbor Financial, among others. LeaseQ has also partnered with prominent truck industry associations, including the Used Truck Association (UTA), Owner-Operator Independent Driver’s Association (OOIDA) and the Truckload Carriers Association (TCA).

“Every business has risk, but by understanding what a trucking company does and how it does it, it’s possible to get owner-operators the financing they need,” said LeaseQ borrower Kenny Mahase, owner of Star Trucking & Construction Services. “Financing my trucks with LeaseQ has helped me expand my business to a different area of the state, create more jobs, hire more people, grow my presence in the industry and keep more money for working capital, rather than having it go to hefty down payments.”

For more information about LeaseQ’s TruckQ platform, visit


We are thrilled to announce that our incredible borrowers Hyo Jin Kim and Hye Jeong Cho were featured in an AMEX Open Forum article titled, “What It Takes to Find Funding as a Minority Business Owner.” The article outlined three minority entrepreneurs and their experience funding their business ventures.


The following is an excerpt outlining Kim and Cho’s financing journey:


Korean immigrant Hyo Jin Kim and his wife Hye Jeong Cho found a lender willing to fund their equipment for their meat market startup in Jonesboro, Georgia. But when it came time to close the loan, the lender required them to acknowledge the terms in English, rather than let their daughter translate.


Instead, they found a financier who was able to work around the language barrier. Kim and Cho secured a lease for $20,000 worth of equipment through third-party leasing company LeaseQ, who matched them with Financial Pacific Leasing (FinPac). FinPac hired a translator to help the couple understand every part of the financing process.


We hope Kim and Cho’s incredible story of determination and dedication will help other minority business owners find the financing they need to open the business of their dreams.


To read the full article, please visit:


With football season upon us, we found ourselves thinking about the experience of attending a game at the stadium. It wouldn’t be nearly the same outing without a cold beer and a tasty hot dog in hand. Being the equipment fanatics we are, we couldn’t help but think about the items necessary to keep a stadium concession stand running successfully with crowds of people pouring through on game day.


Large-scale stadium concessions must haves are soda machine, hot dog warmers, a grill, a fryer, a cotton candy machine, display merchandisers, heated display cases, popcorn machine, pretzel display case and a beer keg just to name a few. Specifics will be determined by the food and drink options each concession stand provides. Remember that these pieces of equipment must also be purchased in multiple quantities to provide for each concession stand, beer garden and private box in the stadium! That’s a lot of equipment.


Next time you are spending an afternoon rooting on your team at the stadium, be sure to stop by a concession stand for a game day treat!



With an ever-expanding roster of equipment lenders, it can be difficult to determine which option is the best for your business. Although there is no one-size-fits-all when it comes to equipment financing lenders, there are a few ways to break down what your lending needs and preferences are. Our CEO, Vernon Tirey, advises all small business owners to seriously consider the following three questions when determining their perfect lender—or, of course, to visit the LeaseQ marketplace for instant quotes from multiple lenders with one application:


  1. How big is their pocketbook?

All good relationships depend on compatible spending habits, and small business borrowers should look for a lender that finances equipment in the dollar amount they need. Lenders typical specialize in only one or two dollar amounts: Micro-ticket under $25,000; Small-ticket under $250,000; Mid-ticket under $5 million; or Large-ticket over $5 million.


  1. What’s their “type”?

Do they like restaurants? Or would they rather be at an amusement park? Lenders generally specialize in 4-8 equipment types at most, so it’s important for small business borrowers to seek a lender in their specific equipment vertical, whether that be restaurant, medical, construction or any of the other 30 types of equipment!


  1. How’s their credit?

No lender handles A through D credit, so it’s important for small business borrowers to take a look at their own credit profile, and seek a compatible lender.


By seeking solid answers to each of these questions, you will be able to find your perfect lender match with less confusion and stress. It is important not only to understand what each lender can offer, but also to express what you need and discern how that fits into their requirements.


LeaseQ’s network of lenders span all industries and business needs and we work to find you the best fit for your equipment financing needs. We encourage you to think about these three questions in preparation for determining lender options.


We are thrilled to announce that FitSmallBusiness has named us a “Best Restaurant Loan” in the category of equipment financing. This is a significant honor for us, because of our dedication to helping small businesses succeed.


Starting a restaurant is a daunting process and securing financing for a restaurant venture is becomingly increasingly difficult. Big banks view restaurant ventures as risky because of stiff competition, ever-changing trends and high capital expense, and tend to turn down many applicants on the spot.


FitSmallBusiness set out to identify the best restaurant financing options because of this tough financing climate:


Restaurants generally have higher startup costs than many other types of businesses, averaging $500,000 according to an industry survey by Operating costs are typically higher as well. At the same time that restaurant owners need more capital, however, it can be difficult to get funding because lenders perceive restaurants as high risk businesses.


We are thrilled to have received this recognition, and hope we can assist more and more business owners with opening the restaurant of their dreams.


To read the entirety of FitSmallBusiness’ feature, please visit:


There’s nothing better than hearing the ring of an ice cream truck on a scorching summer day. While ice cream is the perfect treat for any summer afternoon, people seldom consider the investment that goes into their neighborhood ice cream truck.

food-ice-creamIt is no small feat to create and fund an ice cream truck venture, and having the right equipment is imperative for success and longevity. Not only must you have the proper kitchen equipment, you must also have equipment to bring attention to your truck. Flashy and easily readable signage is a must as well as a catchy horn or ring that signifies your arrival. Inside the truck there needs to be a cold plate freezer, a refrigerator for toppings and drinks, an easily accessible rack for napkins and utensils, and a cash register. A cold plate freezer, in particular, is a must, because it fits nicely in the truck, holds freeze for 10-12 hours and has easily-accessible opening lids for fast service.

Keep your eyes (and ears!) out for your neighborhood ice cream truck, and be sure to thank the ice cream truck entrepreneurs while you enjoy your cone!